Zaid 🟧
@zaidlikesmstr • 2,669 subscribers
“volatility is vitality” Truth ≠ advice • Views my own $BTC = Digital capital | $MSTR = Digital refinery | $STRC = Digital excellence
Videos
$MSTR Shocking interview from Channel 4 News. When someone of Michael Saylor’s stature, especially given a busy conference schedule, takes the time to sit with you for an interview, the minimum expectation is that he’s allowed to fully answer questions without constant interruption. A number of these segments gave the impression that there’s a limited interest in engaging with the underlying thesis of the asset or understanding what’s actually being built, and instead more focus is placed on the sensational cut. They released a 4 min clip of Michael Saylor that mainly highlighted moments of interruption, which clearly shows him getting frustrated, even though the reporter herself mentioned at the start that they had sat for an hour. This is also a broader pattern that has come up before, including coverage from the Financial Times on Strategy and some of its investors. Despite what were reportedly long and detailed conversations, the final edit often came from a fairly narrow lens. Jeff Walton was portrayed in a way that framed him as irrational rather than actually engaging with why he took the bet in the first place. Hopefully Saylor’s PR team takes note of how some of these networks operate and becomes more selective about where they allocate time going forward, because it often doesn’t feel like the goal here is understanding. $BTC $MSTR $STRC
Zaid 🟧139,454 görüntüleme • 9 gün önce
$MSTR It looks increasingly likely that some Bitcoin has been sold to help fund the upcoming $STRC dividend payment on May 31st. And honestly, if you’ve been following the company closely, this shouldn’t come as a surprise. Both Saylor and Phong have repeatedly hinted since the earnings call that Bitcoin sales were now part of the company’s available capital allocation levers. Given that $MSTR hasn’t exactly been trading in strength, utilizing some of the unrealized tax losses tied to higher-cost-basis Bitcoin purchases, while that window still exists, actually makes a lot of sense. (Credit to ₿itcoin ₿eliever who’s put out extensive work predicting this) Personally, I think it’s a good decision. It shows the evolution of the company and its willingness to actively utilize another lever from its evolving playbook, which ultimately only strengthens its capital market operations over time. That said, if a Bitcoin sale is officially announced next week, shareholders should probably prepare for the narrative that follows. The headlines will inevitably paint it negatively. The bears will claim it’s over. And X will most certainly become a colorful place for a couple weeks. But nothing changes fundamentally. The company is still well on its way to becoming the largest Bitcoin holder on the planet and remains on track to approach the 1 million mark sometime this year. Interesting times ahead. $BTC $MSTR $STRC
Zaid 🟧98,591 görüntüleme • 1 ay önce
$MSTR “I have an idea for $30 trillion.” “We have $60 billion of capital. We could buy anything.” - Michael Saylor $STRC is the multi-trillion-dollar idea. It’s the product Strategy is here to build. It’s also why investing in this company requires a genuinely long time horizon. $STRC has already attracted over $10 billion of capital, but if management is right, it’s still in the very early stages of its journey. Each year of consistent execution, each expansion into the credit markets, and each disciplined capital allocation decision strengthens the structure. As long as the company remains focused on accumulating Bitcoin and strengthening digital credit, I don’t believe there is a more compelling idea for management to pursue. This is the strategy. This is the multi-trillion-dollar bet. This is what you’re ultimately investing in. Mission Strategy. $BTC $MSTR $STRC
Zaid 🟧15,021 görüntüleme • 6 gün önce
$MSTR “Occasionally we will take a slight dilution in Bitcoin per share to improve the credit worthiness of the company.” In the past two days, the combined impressions across Saylor’s signal, Phong’s follow up, and Monday’s announcement crossed 17.5 MILLION! Love it or hate it, the attention Strategy commands is second to none. Post the announcement, skeptics were quick to point out that the acquisition, combined with the replenishment of the USD reserve, was slightly dilutive to Bitcoin per share. Michael Saylor came out today addressing that directly, reminding the market to look at the entire capital stack and not just one KPI in isolation. Those who have followed this company long enough already understand this. The BTC yield quarter to date is 9.7%. Year to date it sits at 12.8%, tracking toward the 22.8% projection by year end. Not a single quarter has produced a negative Bitcoin per share result. So when you look at yesterday’s transaction in isolation, it tells you very little about the direction this company is actually heading. What it does tell you is that management is doing exactly what it should be doing. Balancing the interests of the credit instruments, the common shareholders, and the long term scaling of $STRC, which remains the most important lever for the company’s future growth. An occasional dilutive transaction in service of all of that is not something long term shareholders should lose sleep over. The speculation that surrounds moves like this is a net positive too. Every week that Strategy dominates the conversation, more eyes land on the thesis. More skeptics read the dashboards and find themselves having to reckon with what is actually being built here. “Attention is the rarest and purest form of generosity.” - Simone Weil In this space, it is also the most powerful form of validation. $BTC $MSTR $STRC
Zaid 🟧47,335 görüntüleme • 1 ay önce
$MSTR Saylor’s response to the Bitcoin monetization framework: “I don’t think there’s a conflict between doing the right thing for Bitcoin, doing the right thing for the equity, doing the right thing for the credit. I think those are all in a dynamic harmony with each other.” Strategy has spent years building its 847,363 BTC balance sheet. That stack exists to create optionality. When the company’s securities become materially mispriced, Bitcoin itself becomes another capital allocation tool. $STRC shareholders don’t measure success by how many Bitcoin the company buys next week. They measure management’s ability to protect the structure, maintain confidence, and continue servicing the product over the long term. $MSTR shareholders understand something equally important. The faster Strategy can rely on $STRC as its primary capital engine, the less dependent it becomes on common equity issuance, making future Bitcoin accumulation increasingly accretive over time. These aren’t competing objectives. Protecting Digital Credit protects access to capital. Access to capital grows the Bitcoin treasury. And a larger Bitcoin treasury gives management even greater flexibility to defend the structure whenever the market misprices it. That’s the dynamic I don’t expect speculators to fully understand. That’s the dynamic that can take this company to a trillion. Mission Strategy. $BTC $MSTR $STRC
Zaid 🟧13,667 görüntüleme • 11 gün önce
$MSTR Kudos to Coffeezilla for actually getting on a live call with Jeff Walton after making his accusations about digital credit products and the Strategy model. And a massive shout out to Jeff for being extraordinarily composed throughout. That’s where the credit ends. This conversation is a clear example of what happens when influencers jump on a trend without doing the work. Without running the math. Without approaching the topic with even a baseline level of humility. Coffeezilla has built a remarkable career exposing scams. That is genuinely valuable work, and nobody should take that away from him. But there is a significant difference between digging through documentation to expose bad actors and deciding to go against the thesis of someone who has innovated this entire space and thought about it day and night, and then entering a live unedited conversation with someone who has studied and built upon that very thesis in professional practice. Michael Saylor has been publicly advocating for Bitcoin for over five years. The dashboards are public. The thesis is public. The math is public. The entire capital structure has been laid out in exhaustive detail across hundreds of keynotes, interviews, and earnings calls. To assume that reading into all of that in a day, then doubling down with broad public accusations about the model not being viable, is extremely shortsighted. And for someone with millions of followers, it is irresponsible. What this conversation made evidently clear is that when you go up against people who have built their entire professional lives on math and objective reasoning, opinions are not enough. Strategy is trying to improve the credit market. Trying to give retirees a fighting chance. Trying to innovate in a space where there is no easy alternative path. Doing it transparently, mathematically, and with full confidence in what they have built. That deserves curiosity. Not a camera and a hot take. I am genuinely skeptical this entire video sees the light of day on his channel. Once again, Jeff was exceptional. $BTC $MSTR $STRC
Zaid 🟧62,102 görüntüleme • 2 ay önce
$MSTR With the current weakness across Strategy’s securities and Bitcoin itself, now might be a good time to revisit how management is likely thinking through the coming weeks. A few things stand out. • The June 30th $STRC dividend obligation is coming up. • While $STRC remains well below the $100 mark, management will likely be working on ways to strengthen the instrument while building on the USD reserve, as they’ve discussed. • With $MSTR currently trading at roughly 0.98x mNAV and $STRC unavailable as a capital raising tool, management has an important set of decisions to make around the BTC reserves. What’s most interesting to me isn’t necessarily which lever gets pulled. It’s how those decisions are prioritized. Operationally, certain actions may make perfect sense while simultaneously creating a very different reaction from the market. The sale of the 32 BTC was enough to trigger widespread discussion and panic. That’s the reality of being one of the largest holders of the hardest asset on the planet. Every capital allocation decision becomes part of the broader market conversation. Some very interesting weeks lie ahead. Let’s see what the Strategy is. $BTC $MSTR $STRC
Zaid 🟧15,329 görüntüleme • 15 gün önce
$MSTR How does Strategy defend the peg on $STRC if a large seller were to dump? The answer was remarkably simple. The instrument defends itself. That is the design. If you want the best takeaway from today’s call, it’s probably Michael Saylor explaining the mechanics of defending $STRC in the video below. It’s something I had thought about often. But it is incredible how Saylor manages to simplify it and make it make complete sense. As long as Strategy maintains its consistency and its focus on $STRC as its flagship product, the instrument remains remarkably stable. And the reason is the relationships and the pools of capital that surround it. If a large seller pulls $STRC below the peg on any given day, that creates an opportunity for a hedge fund to step in and capture the move back up, knowing Strategy will deploy its resources to restore it. And all of this happens while retail interest continues to pour in from buyers who are not here to hedge. Every large seller is met with another buyer who sees value. The capital base only grows wider over time. This should tell Strategy investors exactly why the company has placed $STRC at the front of everything it does. It now understands just how rigid and stable this instrument is built to be. The more you understand the design, the harder it is to bet against it. $BTC $MSTR $STRC
Zaid 🟧27,232 görüntüleme • 1 ay önce
$MSTR Saifedean is a great thinker, but he’s an ideologue. And the problem with ideologues is they model the future based on past patterns, without accounting for the most disruptive variable of all: changing technology. Saifedean’s world is one where, under a Bitcoin standard, time preference naturally falls. People accumulate hard money, they become patient, credit disappears, and humanity converges on a purely equity-based system. It’s elegant. But it assumes a version of human rationality that technology is actively dismantling in real time. Look around you. The defining trend of the last decade has been the opposite of patience. Instant delivery. Reels over essays. Fast food over cooking. Two-day shipping became same-day. Same-day became one hour. The most consumed content format on earth is a fifteen-second video. Artificial intelligence is accelerating this further, removing every remaining friction between want and fulfillment. The world is not trending towards lower time preference. It is trending towards zero patience at scale… What Saylor understood that Saifedean hasn’t is that real capital markets require you to look at the world the way it is. Bitcoin is a long-horizon, zero-yield, maximum-patience asset living inside a civilization that is becoming structurally more short-term by the day… Most people will never hold Bitcoin. Most of them have rent due, mortgages to pay, and no bandwidth to understand monetary debasement. They need yield now. They need capital now. Saylor’s answer to that has been to build a bridge. $MSTR pulls in the long-term thinkers (Institutions, the Bitcoin maximalists with decade-long conviction) and uses their capital as a foundation to issue products that meet everyone else where they are. The most popular of Strategy’s preferred instruments ($STRC) pays monthly rather than quarterly. And the demand of late is pushing it now towards semi-monthly. This is Saylor reading the market correctly. $STRC went from zero to $8 billion in under a year, filling a massive structural gap in the market. Saifedean is right that Bitcoin changes money. But he’s wrong that it changes human nature. As long as there are people with capital and people who need it, and technology keeps compressing time horizons, there will be credit. There will be yield. There will be instruments that meet people where they are. An ideologue dreams of the world he wants. The capitalist builds for the world that exists. Saylor is the capitalist. $BTC $MSTR $STRC
Zaid 🟧36,271 görüntüleme • 2 ay önce
All-in on $MSTR. People call it concentration risk. I call it concentration. $BTC $MSTR $STRC
Zaid 🟧18,678 görüntüleme • 1 ay önce
$MSTR It’s been four years since Saylor stood on that stage at the Atlas Society and said: “Build the bridge, go stand out in the middle of the bridge, show people it’s not going to break. If it’s good for $100M, it’s good for a Billion … and if it’s good for a billion, we might as well go for 4 billion” Since then… they didn’t just stand on the bridge-they’ve kept building it. Tens of billions raised. Multiple cycles endured. The company is still standing. The bridge is as strong as ever. This morning, another $42B plan has been announced. At some point, you’ve got to wake up and see this isn’t an experiment anymore. This is execution. This is a man on a mission that’s turning his conviction into reality. Keep fading him… or go stand on the bridge yourself.. #BTC #STRC #MSTR
Zaid 🟧38,096 görüntüleme • 3 ay önce
Daha fazla içerik yok.